Internationalisation of global capital markets has meant that yield movements are
generally mirrored by the financial markets of individual sovereign nations. This is because
capital has become an international commodity with flows being driven by yield across
international boundaries. This is evident in the data depicted in Figure 6.The 10 year bond
rates are used as yield benchmarks globally within the real estate industry (Jeon & Rhee,
2008; Hoesli, Lekander & Witkiewicz, 2004).